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8-K - FORM 8-K - ANTHRACITE CAPITAL INC | anthracite.htm |
Exhibit
99.1
Contact:
Stockholder
Relations
212-810-3333
ahr-info@blackrock.com
Anthracite
Capital Announces Addition to Board of Directors
New York, November 10, 2009 – Anthracite
Capital, Inc. (“Anthracite” or the “Company”) (NYSE:AHR) today announced that
Kathleen M. Hagerty, Senior Associate Dean for Faculty and Research at the
Kellogg School of Management at Northwestern University, was elected to its
Board of Directors.
Chris
Milner, Chief Executive Officer of Anthracite, stated, “We are extremely pleased
to have Kathleen join the Board of Directors. Her insights and knowledge of
financial markets will benefit the Company significantly.”
With
the addition of Ms. Hagerty, the Board consists of seven directors, five of whom
are not affiliated with the Company, or the manager.
Brief
biographical information regarding Ms. Hagerty is provided below, and additional
information can be found on the "Investor Relations" section of Anthracite's
website, www.anthracitecapital.com.
Kathleen
M. Hagerty holds the First Chicago Professorship in Finance at the Kellogg
School of Management at Northwestern University. She has been the Senior
Associate Dean for Faculty and Research at the Kellogg School since 2005.
Professor Hagerty has published widely in finance and economic journals. Her
work has studied the micro-structure of securities markets, disclosure
regulation, insider trading regulation and the effectiveness of self-regulatory
organizations. She received her Ph.D. from Stanford University in 1985. Ms.
Hagerty received an MBA (1979), MS in Operations Research (1977) and a BA in
Mathematics (1975) from the University of California, Berkeley.
About Anthracite
Anthracite
Capital, Inc. is a specialty finance company focused on investments in high
yield commercial real estate loans and related securities. Anthracite
is externally managed by BlackRock Financial Management, Inc., which is a
subsidiary of BlackRock, Inc. (“BlackRock”) (NYSE:BLK), one of the largest
publicly traded investment management firms in the United States with
approximately $1.435 trillion in global assets under management at September 30,
2009. BlackRock Realty Advisors, Inc., another subsidiary of BlackRock, provides
real estate equity and other real estate-related products and services in a
variety of strategies to meet the needs of institutional investors.
Forward-Looking
Statements
This
release, and other statements that Anthracite may make, may contain
forward-looking statements within the meaning of the Private Securities
Litigation Reform Act of 1995, with respect to Anthracite’s future financial or
business performance, strategies or expectations. Forward-looking statements are
typically identified by words or phrases such as “trend,” “potential,”
“opportunity,” “pipeline,” “believe,” “comfortable,” “expect,” “anticipate,”
“current,” “intention,” “estimate,” “position,” “assume,” “outlook,” “continue,”
“remain,” “maintain,” “sustain,” “seek,” “achieve,” and similar expressions, or
future or conditional verbs such as “will,” “would,” “should,” “could,” “may” or
similar expressions.
Anthracite
cautions that forward-looking statements are subject to numerous assumptions,
risks and uncertainties, which change over time. Forward-looking statements
speak only as of the date they are made, and Anthracite assumes no duty to and
does not undertake to update forward-looking statements. Actual results could
differ materially from those anticipated in forward-looking statements and
future results could differ materially from historical performance.
In
addition to factors previously disclosed in Anthracite’s SEC reports and those
identified elsewhere in this release, the following factors, among others, could
cause actual results to differ materially from forward-looking statements or
historical performance: (1) the introduction, withdrawal, success and timing of
business initiatives and strategies; (2) changes in political, economic or
industry conditions, the interest rate environment, financial and capital
markets or otherwise, which could result in changes in the value of the
Company's assets and liabilities, including net realized and unrealized gains or
losses, and could adversely affect the Company's operating results; (3) the
Company's ability to meet its liquidity requirements to continue to fund its
business operations, including its ability to renew its existing facilities or
obtain replacement financing, to meet amortization payments under the facilities
and to service debt; (4) the amount and timing of any future margin calls and
their impact on the Company's financial condition and liquidity; (5) the
Company's ability to obtain amendments and waivers in the event that a lender
terminates a facility before the maturity date or debt obligations are
accelerated due to a covenant breach or otherwise; (6) the relative and absolute
investment performance and operations of BlackRock Financial Management, Inc.
(the ''Manager''), the Company's Manager; (7) the impact of increased
competition; (8) the impact of future acquisitions or divestitures; (9) the
unfavorable resolution of legal proceedings; (10) the impact of legislative and
regulatory actions and reforms and regulatory, supervisory or enforcement
actions of government agencies relating to the Company or the Manager; (11)
terrorist activities and international hostilities, which may adversely affect
the general economy, domestic and global financial and capital markets, specific
industries, and the Company; (12) the ability of the Manager to attract and
retain highly talented professionals; (13) fluctuations in foreign currency
exchange rates; (14) the impact of changes to tax legislation and, generally,
the tax position of the Company; and (15) as a result of its liquidity position,
current market conditions and the uncertainty relating to its ability to meet
covenants in restructured agreements, substantial doubt about the Company's
ability to continue as a going concern.
Anthracite’s
Annual Report on Form 10-K for the year ended December 31, 2008 and Anthracite’s
subsequent filings with the SEC, accessible on the SEC's website at www.sec.gov,
identify additional factors that can affect forward-looking
statements.
To
learn more about Anthracite, visit our website at
www.anthracitecapital.com. The information contained on the Company’s
website is not a part of this release.